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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 14, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    Trades in near-term corrective mode the recent gains through 1.4450 barrier peaked at 1.4471. Subsequent pullback on overbought hourly conditions, currently attempting to base at 1.4420 zone, where hourly 20 day MA lies. Further decline is not ruled out at this point, with 1.4400, daily 55 day MA, expected to contain dips and keep near-term strength intact. On the upside, clearance of 1.4475/1.4500 is required to resume gains towards key barrier at 1.4550, also Fib 61.8% of 1.4695/1.4320 downleg. Loss of 1.4400/1.4380, however, would indicate an end of recovery phase and re-focus 1.4320/00.

    Res: 1.4450, 1.4476, 1.4500, 1.4550
    Sup: 1.4413, 1.4400, 1.4377, 1.4345



    Daily 55 day MA at 1.6350 and hourly 20 day MA at 1.6390, so far hold corrective pullback from 1.6440, today’s peak of the latest rally from 1.6215, with 4—hour structure still supportive for fresh attempt higher. Clearance of key near-term barrier at 1.6470 is sought for extension towards 1.6545, while loss of strong support zone at 1.6350 would weaken near-term picture.

    Res: 1.6420, 1.6465, 1.6471, 1.6500
    Sup: 1.6376, 1.6354, 1.6345, 1.6311



    Break below daily Ichimoku cloud keeps the wider picture in the negative territory, while near-term structure maintains positive tone off 79.68, 08 June low. Gains were so far capped at 80.70, strong resistance level, also main trendline, connecting 82.20/81.76 highs, with break here sought to resume recovery and open 81.00/30 next, ahead of possible attempt at 81.76, key lower top. On the downside, 20 day MA at 80.25 and psychological 80.00 level, offer strong support for now.

    Res: 80.70, 81.00, 81.31, 81.76
    Sup: 80.40, 80.25, 80.10, 80.00



    Regains strength after sharp pullback from 0.8466, yesterday’s high, found good support at 0.8350 zone. Strong rally is approaching key near-term barriers at 0.8450/70, break of which is required to resume recovery towards 0.8500/44 and increase hopes for short-term basing above 0.8325, record low. Corrective pullback on overbought hourly conditions, however, should hold above 0.8400, to maintain near-term positive structure.

    Res: 0.8450, 0.8470, 0.8500, 0.8544
    Sup: 0.8400, 0.8380, 0.8350, 0.8325


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